Flea of Pain writes: Director Guillermo Del Toro has confirmed upcoming Lord of the Rings prequel The Hobbit has been put on hold indefinitely because the movie has been caught in a "tangled negotiation" over the future of the MGM movie studio.

The film, based on J.R.R. Tolkien's first book in the fantasy series, was reportedly due to begin shooting this summer, but has been mired in delays.

Lord Of The Rings director Peter Jackson, who will act as producer on the new film, recently dismissed rumours of trouble with the picture, insisting: "It's not really been delayed, because we've never announced the date".